"Markets have been moving based on Putin or (Federal Reserve Chairman Jerome) Powell," Carter added. "Putin and his intentions with Ukraine and Powell and his intentions regarding interest rates."
Ascendas REIT surged 2.86 percent, Genting Singapore rallied 0.65 percent, SATS lost 0.74 percent, Thai Beverage sank 0.75 percent, Wilmar International was up 0.23 percent and Singapore Exchange and Comfort DelGro were unchanged.
Continued Strength Anticipated For Singapore Stock Market
U.S. inflation data for January is due on Thursday, with markets now pricing in a one-in-three chance the U.S. Fed might hike rates by a full 50 basis points in March.
Why? Volatility is normal. And market corrections, defined as a 10% pullback from a recent high, are healthy and common occurrences during any bull market.